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Stock Market & Financial Investment News

News For GE;MET;UNB;C From The Last 14 Days
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May 28, 2015
15:49 EDTGEGeneral Electric retains Deutsche Bank to sell Interbanca, Reuters reports
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15:01 EDTGEGE working with Deutsche Bank on sale of Interbanca, Bloomberg says
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10:47 EDTCCiti have right to move forward with Costco deal if no receivables
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10:38 EDTCCiti expects to run Citi Holdings at breakeven or better
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10:35 EDTCCiti says environment around legal, repositioning costs mute out actual results
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06:59 EDTGEApollo, KKR expected to bid for GE unit, WSJ reports
Private equity firms including KKR (KKR) Apollo Global (APO) and Ares Management are among the private equity firms that are in the process of bidding for GE's (GE) business that funds LBOs, The Wall Street Journal reports, citing sources. The unit could fetch over $17B in a sale, the publication notes. Canada Pension Plan Investment Board and Guggenheim Securities also are expected to submit offers for the unit, and an agreement could be announced as early as next week, the sources say. Reference Link
06:57 EDTGEMorgan Stanley picked by GE as adviser for Japan leasing sale, Bloomberg reports
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06:44 EDTGEGE Capital focusing on sales of private-equity lending assets, Reuters reports
GE Capital Keith Sherin told an investor conference on Wednesday that the company is prioritizing the sale of private-equity lending assets, Reuters reports. Sherin said the deals must be done quickly, as the businesses have a lot of franchise value, and added that "customers won't do any business with us unless they know who the owner is." Reference Link
May 27, 2015
12:33 EDTGEAuction for GE's 'Sponsor Finance' business nears conclusion, DJ says
Canada's CPPIB, Guggenheim, Apollo, KKR, Ares, others expected to place bids for the General Electric unit which may fetch over $17B, added Dow Jones. The news service added that a deal may be announced next week.
09:24 EDTCCiti management to meet with Deutsche Bank
Field trip to company headquarters in New York will be held on May 27 hosted by Deutsche Bank.
May 26, 2015
20:50 EDTCBernstein to hold a conference
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16:01 EDTCOptions Update; May 26, 2015
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15:17 EDTGEGE in advanced talks to sell fleet assets to Element, Bloomberg says
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14:36 EDTGEGE in talks to sell fleet-management assets to Element, Bloomberg reports
06:41 EDTCJPMorgan, other banks close branches on border to avoid laundering, WSJ says
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May 25, 2015
19:46 EDTCFXCM subsidiaries acquire majority of Citi margin forex accounts
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May 21, 2015
08:27 EDTGEGeneral Electric announcements positive, says Bernstein
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07:44 EDTGEWoodward to host conference call
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07:36 EDTGEJoint venture a significant positive for Woodward, says Stifel
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06:10 EDTGEStocks with implied volatility below IV index mean; LNKD GE
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05:48 EDTGEGE willing to sell IP rights in Alstom deal, Financial Times says
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May 20, 2015
16:26 EDTCOn The Fly: Top stock stories for Wednesday
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16:15 EDTGEGE Aviation, Woodward combine fuel systems expertise for new joint venture
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16:14 EDTGEWoodward to repurchase $250M in shares over next 12 months
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16:00 EDTGE, COptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
12:33 EDTCOn The Fly: Top stock stories at midday
Stocks began the session relatively unchanged from yesterday’s close and continue to trade in a holding pattern as investors await the release of the minutes from the Federal Reserve's last FOMC meeting. ECONOMIC EVENTS: In the U.S., EIA inventory data showed a 2.67M barrel fall in crude stocks, versus expectations for a 1.75M barrel decrease. The Federal Reserve is scheduled to release the minutes from its last rate setting meeting at 2 pm EDT. In Asia, Japan's GDP accelerated to a 2.4% growth pace in the first quarter, which was much better than expected. Japanese stock markets rallied on the news, sending the Nikkei 225 average to its best level in 15 years. COMPANY NEWS: Five of the world's largest banks - Citi (C), JPMorgan Chase (JPM), Barclays (BCS), The Royal Bank of Scotland (RBS) and UBS (UBS) - agreed to pay more than $5B and plead guilty to felony charges related to manipulating foreign currencies and interest rates. In conjunction with previously announced settlements with regulatory agencies in the United States and abroad, today’s resolutions bring the total fines and penalties paid by these five banks for their conduct in the foreign exchange spot market to nearly $9B, the Department of Justice stated... Target (TGT) shares advanced 1% after the retailer's first quarter earnings topped expectations and it raised the low-end of its fiscal year profit forecast. Brian Cornell, chairman and CEO of Target, said the company was pleased with its first quarter traffic and sales, particularly in its signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 53% after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug to the FDA for approval on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy, or DMD. Also higher was Pep Boys (PBY), which gained 14% after The Wall Street Journal said private equity firm Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. Among the noteworthy losers was Etsy (ETSY), which operates an online marketplace to buy and sell handmade items and vintage goods. The stock, which priced its IPO at $16 and opened for trading at $31 per share, dropped 22% to trade near $16.50 after the company issued its first financial report since coming public in April. Also lower were shares of several airline stocks, led by Southwest (LUV), which was down 8% near noon. In a regulatory filing last night, Southwest indicated it expects FY15 capacity growth to increase 7%-8% and to grow another 6%-7% in FY16. Buckingham downgraded Southwest to Neutral from Buy this morning, stating it has a more cautious revenue outlook for the company due to a worsening backdrop as competitors vow to compete aggressively. INDEXES: Near midday, the Dow was down 6.10, or 0.03%, to 18,306.29, the Nasdaq was up 1.65, or 0.03%, to 5,071.69, and the S&P 500 was down 0.49, or 0.02%, to 2,127.34.
11:57 EDTGEGE says going for SIFI de-designation in 2016
11:39 EDTGEGE CEO Immelt confident Alstom deal will get approved
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11:38 EDTGEGE CEO sees having a 'good' business in Oil&Gas
Targets reduction of approximately $1B in cumulative cost.
11:35 EDTGEGE CEO says company is in good shape financially
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11:33 EDTGEGeneral Electric says Aviation will be better than prior view
11:31 EDTGEGE sees about $100B in finance asset sales in 2015 up from $90B
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11:21 EDTGEGE capital portfolio execution ahead of plan
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11:18 EDTGEGE on track for 2015 framework, sees solid organic growth and margin enhancement
Information from slides presentation prepared for 2015 Electrical Products Group Conference.
10:15 EDTCFive banks agree to parent-level guilty pleas in settlement over forex rigging
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10:09 EDTCCiti, JPMorgan, RBS, Barclays, UBS agreed to guilty pleas in forex settlement
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10:05 EDTCCiti announces ForEx settlements with Department of Justice, Federal Reserve
Citi announced that it has entered into settlements with the United States Department of Justice and the Board of Governors of the Federal Reserve System to resolve investigations into Citi’s foreign exchange business. The settlement with the DOJ includes a guilty plea by Citicorp, a subsidiary of Citigroup, to a violation of the Sherman Antitrust Act and fine of $925M. The settlement with the Fed includes the entry of a cease and desist order and a civil money penalty of $342M. Citi also announced that it has reached a separate agreement to settle related private U.S. class action claims for a payment of $394M, subject to court approval. Citi expects to maintain its licenses and does not expect a material impact on its operations or ability to serve its clients. The payments required by each of the settlements Citi announced today are covered by existing legal reserves and will not require a charge to earnings in the second quarter of 2015.
10:05 EDTCCiti announces ForEx settlements with Department of Justice, Federal Reserve
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08:21 EDTCATM data theft soars to highest rate in two decades, WSJ says
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07:14 EDTGEElectric Products Group to hold a conference
EPG 2015 is being held in Longboat Key, Florida on May 18-20 with webcasted company presentations to begin on May 20 at 7:30 am; not all company presentations may be webcasted. Webcast Link
06:17 EDTGEGeneral Electric looking to sell Australia commercial lending unit, WSJ reports
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06:08 EDTGEStocks with implied volatility below IV index mean; DD GE
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May 19, 2015
18:54 EDTGEGE to lose $350M locomotives deal if Export-Import Bank fails, Reuters says
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18:01 EDTGEAflac names Matthew Owenby as Chief Human Resources Officer
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15:42 EDTCBanks' settlement over forex rigging to be announced tomorrow, CNBC says
Several banks are said to plan to plead guilty and pay "billions" in fines in a settlement over their roles in foreign exchange manipulation that is expected to be announced Wednesday, according to CNBC's Kate Kelly. Prior media reports have listed Barclays (BCS), Royal Bank of Scotland (RBS), UBS (UBS), JPMorgan (JPM) and Citigroup (C) as having been in talks with U.K. and U.S. authorities for their roles in foreign currency rigging.
08:04 EDTGEGE announces launch of Digital Wind Farm
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06:01 EDTGEStocks with implied volatility below IV index mean; MSFT GE
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May 18, 2015
16:14 EDTGEColfax announces acquisition of Roots blowers & compressors
Colfax Corporation (CFX) announced that it has entered into a binding agreement to acquire the Roots blowers and compressors business unit , also known as Industrial Air & Gas Technologies, from GE (GE) Oil & Gas for a cash consideration of $185M. Roots is a leading supplier of blower and compressor technologies which service a broad range of end markets, including water treatment, chemical production, and power generation. This acquisition will build on Howden's global strength in compressors and blowers and will add important application expertise and product solutions to the portfolio. In 2014, Roots had approximate revenues of $155 million and EBITDA of $22M. In making the announcement, Steve Simms, President and Chief Executive Officer of Colfax, stated, "I am delighted to welcome the Roots team to Colfax. We are excited by the opportunities created by combining the Roots capabilities and application expertise with Howden's global footprint and continuous improvement culture. Like Howden, the Roots business has spent more than 150 years developing market leading products and solutions, and we look forward to continuing to innovate and grow." Mr. Simms continued, "Strengthening our businesses through bolt-on acquisitions is a core part of our strategy, and we continue to see a robust pipeline of opportunities."Closing of the acquisition is expected early in the third quarter following the fulfillment of certain conditions.
09:46 EDTCMPLX enters common unit sales agreement for up to $500M
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09:36 EDTGE, CActive equity options trading on open
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08:07 EDTGESplunk appoints Snehal Antani as Chief Technology Officer
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08:01 EDTCList of potential buyers of Citi Egyptian retail unit narrows, Reuters reports
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07:12 EDTCBarclays expected to face over GBP250M in fines for rigging, Telegraph says
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06:56 EDTGEGE, Emerson said to be mulling bids for Aveva, Sunday Times reports
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06:15 EDTCCiti divests 16% stake in Grupo Aeromexico, Reuters reports
Citigroup (C) has sold its 16% stake in Grupo Aeromexico, the Mexican airline says, Reuters reports. According to the airline, Barclays Capital (BCS) acquired about 8% of shares through a financial operation with Delta (DAL). Reference Link
06:05 EDTGEStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
May 15, 2015
18:37 EDTGEGeneral Electric awarded $105M government contract modification
General Electric - Aviation, Cincinnati, Ohio, has been awarded a $105M modification to previously awarded contract FA8650-09-D-2922 to cover the potential award of the Adaptive Engine Technology Development order. This additional research and the resulting data will further mature aircraft engine technologies and decrease risk to achieve a system level preliminary design review and subsequent Adaptive Engine Research Design compatibility review. Work will be performed at Cincinnati, Ohio, and is expected to be complete by Nov. 3, 2016. Funds will be obligated if additional in-scope work is awarded. Air Force Research Laboratory, Wright-Patterson Air Force Base, Ohio, is the contracting activity.
14:07 EDTCCiti reports April credit loss 2.78% vs. 2.50% last month
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12:13 EDTCThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
10:01 EDTMETOn The Fly: Analyst Initiation Summary
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07:50 EDTCDOJ tearing up prior UBS rigging settlement after new violations, WSJ reports
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06:03 EDTGEStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
05:50 EDTMETMetLife initiated with a Neutral at Goldman
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